Solving for the Net Realizable Value of Accounts Receivable
ABC Company had the following account balances after adjusting journal entries on 12-31-09.
Cash
$120,000
Accounts Receivable
$450,000
Bad Debt Expense
$65,000
Inventory
$342,000
Allowance for doubtful accounts
$23,100
Question: What is the net realizable value of accounts receivable at 12-31-09?
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Solution Summary
This solution provides the correct answer with explanation to the NRV question provided.
$2.19